KT (NYSE:KT) Hits New 12-Month Low – Should You Sell?

KT Corporation (NYSE:KT)’s share price hit a new 52-week low on Tuesday . The company traded as low as $17.41 and last traded at $17.4030, with a volume of 113340 shares traded. The stock had previously closed at $17.85.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KT. Zacks Research cut shares of KT from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 14th. Wall Street Zen lowered KT from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Weiss Ratings reissued a “buy (b)” rating on shares of KT in a report on Friday, June 12th. Finally, Bank of America downgraded KT from a “buy” rating to a “neutral” rating and set a $23.08 price objective for the company. in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, KT has an average rating of “Hold” and a consensus price target of $23.08.

KT Price Performance

The business’s 50-day simple moving average is $19.89 and its two-hundred day simple moving average is $20.52. The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 7.78 and a beta of 0.53. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.11.

KT (NYSE:KT) last announced its quarterly earnings results on Monday, April 13th. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). KT had a return on equity of 8.04% and a net margin of 5.51%.The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.69 billion. Research analysts expect that KT Corporation will post 2.06 earnings per share for the current year.

Hedge Funds Weigh In On KT

Institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC boosted its stake in shares of KT by 4,148.2% during the first quarter. Millennium Management LLC now owns 530,817 shares of the technology company’s stock valued at $9,401,000 after purchasing an additional 518,322 shares in the last quarter. Jane Street Group LLC increased its stake in shares of KT by 107.9% in the first quarter. Jane Street Group LLC now owns 242,212 shares of the technology company’s stock valued at $4,290,000 after buying an additional 125,702 shares during the period. Natixis Advisors LLC raised its holdings in KT by 39.8% in the 3rd quarter. Natixis Advisors LLC now owns 280,713 shares of the technology company’s stock valued at $5,474,000 after buying an additional 79,891 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in KT during the 3rd quarter worth approximately $1,190,000. Finally, Captrust Financial Advisors bought a new stake in KT during the 4th quarter worth approximately $1,047,000. Institutional investors and hedge funds own 18.86% of the company’s stock.

KT Company Profile

KT Corporation, listed on the New York Stock Exchange as an American depositary receipt under the symbol KT, is a major telecommunications and information technology provider headquartered in Seongnam, South Korea. The company’s services span traditional fixed-line voice communication, high-speed broadband internet access and mobile cellular networks. Leveraging an extensive fiber-optic and wireless infrastructure, KT delivers voice, data and multimedia solutions to both consumer and enterprise customers.

KT has been at the forefront of technological innovation in its home market, launching South Korea’s first commercial 5G network and expanding its offerings to include Internet of Things (IoT) platforms, cloud computing services and cybersecurity solutions.